Enbridge Inc. (NYSE:ENB) Stock Position Decreased by Kennebec Savings Bank

Kennebec Savings Bank reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,195 shares of the pipeline company’s stock after selling 635 shares during the period. Kennebec Savings Bank’s holdings in Enbridge were worth $529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Sonora Investment Management Group LLC increased its holdings in shares of Enbridge by 7.7% in the 4th quarter. Sonora Investment Management Group LLC now owns 17,324 shares of the pipeline company’s stock worth $735,000 after acquiring an additional 1,234 shares during the period. Boomfish Wealth Group LLC increased its position in Enbridge by 0.9% in the 4th quarter. Boomfish Wealth Group LLC now owns 37,703 shares of the pipeline company’s stock valued at $1,600,000 after acquiring an additional 318 shares during the period. Mediolanum International Funds Ltd grew its stake in shares of Enbridge by 82.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 152,794 shares of the pipeline company’s stock worth $6,408,000 after purchasing an additional 68,954 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Enbridge during the fourth quarter valued at about $121,000. Finally, Synergy Asset Management LLC acquired a new stake in Enbridge in the fourth quarter worth about $51,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ENB shares. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 0.4 %

Enbridge stock opened at $44.45 on Friday. The company has a market capitalization of $96.82 billion, a P/E ratio of 20.58, a P/E/G ratio of 4.11 and a beta of 0.93. The firm’s fifty day simple moving average is $43.09 and its 200-day simple moving average is $41.08. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.